Here are some potential pros and cons of purchasing real estate in Bourbon, Missouri:

Pros:

1. Affordability: The median home price in Bourbon is lower than the national average, making it an affordable option for people looking to buy a property.

2. Peaceful environment: Bourbon is a small village in a rural area, so it offers a more peaceful and tranquil living experience away from the hustle and bustle of big cities.

3. Outdoor recreational activities: The village is located near several parks and conservation areas, which provide opportunities for outdoor activities like hiking, fishing, and camping.

Cons:

1. Limited job opportunities: Since Bourbon is a small village, there may be limited job opportunities in the area, particularly for professionals in certain industries.

2. Distance from major cities: The village is far from major cities like St. Louis, which may make it less convenient for those who need access to city amenities and services.

3. Weather: Missouri's weather can be unpredictable, and the area is particularly prone to thunderstorms, tornadoes, and flooding, which could potentially cause property damage or hazards.

It is important to note that these are general pros and cons, and the specific circumstances of a property in question must be taken into account before making any real estate purchase. Consulting with a local real estate agent who specializes in the area and conducting a thorough inspection of the property can also help in making an informed decision.